Currently, most individuals write checks and enter account balance information into their checkbooks by hand. Manually recording check transactions and writing checks is somewhat time consuming, and, for the elderly, often cumbersome. When hurried, individuals often enter a series of disbursed checks in the check registry without calculating the checking account balance. As a result, a current checking account balance is not always readily available, which increases the likelihood of overdrawing the checking account. Moreover, addition and subtraction mistakes are commonly made when balancing the checkbook, particularly if the checkbook is balanced rapidly. Miscalculations may, again, result in an overdrawn account, and these errors also lengthen the amount of time it takes to balance the checkbook figure with monthly bank statements.
In an attempt to alleviate the above-described problems, an electronic checkbook was designed which includes a microprocessor mounted in the checkbook folder. The microprocessor electronically calculates and stores the checking account balance on a day-to-day basis. The electronic checkbook includes a series of user-activated buttons to allow a user to input data, such as a debit or deposit amount, into the microprocessor. A digital display is provided for displaying entered data and the updated account balance calculated by the microprocessor, thereby eliminating the need for a check issuer to mentally calculate the checking account balance. This electronic calculator, however, still required individuals to handwrite checks. Handwriting checks can be a tedious process, particularly when paying monthly bills or in any other instance requiring issuance of a large number of checks.
In the more recent past, a computerized check writing apparatus has been developed which maintains, prints, and records deposits and withdrawals from a checking account. The check writing apparatus includes a rectangular box-like housing for receiving a check cartridge which carries a plurality of stacked checks. A plotting mechanism is carried on shafts mounted within the housing to horizontally and vertically position the print head relative to the face of a check to be printed. The print mechanism prints the date, name of payee, and check amount on the face of a check, and then an ejector mechanism ejects the check from the check cartridge for signature. Although the check issuer does not have to handwrite the check, printing the check is time and energy consuming because the print head of the print mechanism must operably travel along two axes to correctly plot the data onto the face of the check. In hurried circumstances, such as supermarket or grocery store lines, waiting for a check to be printed and then ejected from the check cassette may be frustrating.
The difficulties suggested in the preceding are not intended to be exhaustive but rather are among many which tend to reduce the effectiveness of prior electronic checkbook devices. Other noteworthy problems may also exist; however, those presented above should be sufficient to demonstrate that such electronic checkbooks appearing in the past will admit to worthwhile and substantial improvement.
Accordingly, it is therefore a general object of the invention to provide an electronic checkbook which will obviate or minimize difficulties of the type previously described and alluded to and referred to.
It is a specific object of the invention to provide an electronic checkbook which expeditiously and efficiently prints checks for disbursement.
It is another object of the invention to provide an electronic checkbook which calculates and stores account balance information, including information relating to disbursed checks, and visually display the stored information for future data retrieval.
It is still another object of the invention to provide an electronic checkbook which permits visual verification of entered data prior to printing a check
It is a further object of the invention to provide an electronic checkbook which may be programmed for selective access by particular check issuers.
It is yet a further object of the invention to provide an electronic checkbook which may electronically communicate with external computer circuitry by receiving and transfering data.
It is still yet a further object of the invention to provide an electronic calculator which is portable, compact, durable, lightweight, easy to use, and energy efficient.